RxBenefits Appoints Rick Jelinek and Kristi Savacool to Board of Directors
Healthcare and Technology Industry Veterans to Help Drive Continued Expansion
BIRMINGHAM, Ala., July 22, 2021 – RxBenefits, the employee benefits industry’s leading technology-enabled pharmacy benefits optimizer (PBO), today announced the appointment of Rick Jelinek, a former Executive Vice President at CVS Health and Aetna as well as CEO of OptumHealth, and Kristi Savacool, former CEO of Aon Hewitt, to the Board of Directors. Mr. Jelinek will serve as Board Chairman. Both industry veterans bring over two decades of experience building and scaling global corporations as well as spearheading critical customer and business initiatives.
“We are pleased to welcome Rick and Kristi to the RxBenefits Board of Directors,” said Bryan Statham, Chief Executive Officer. “With decades of experience leading healthcare, technology and professional services businesses, both Rick and Kristi have established track records of fueling growth and innovation while helping transform the healthcare experience for consumers. As we build out our specialty and clinical programs, deliver cost savings to our clients, and execute and further shape our business, Rick and Kristi’s perspectives and expertise will be tremendously valuable.”
“RxBenefits is filling a key gap in the healthcare marketplace through its trusted partnerships with PBMs and differentiated ability to deliver meaningful pharmacy savings alongside a superior customer experience,” said Mr. Jelinek. “I look forward to partnering with Bryan and the Board to help scale the Company’s go-to-market strategy and capitalize on the sizable whitespace in the industry.”
“As the industry’s only fully independent, client-aligned, multi-PBM platform, RxBenefits is an exceptionally strong company with a best-in-class leadership team,” said Ms. Savacool. “I’m excited to join the Board of Directors to help support the Company’s growth. Few platforms have RxBenefits’ deep relationships with PBMs and brokers, which position RxBenefits for continued expansion while delivering innovation and transformative products to its customers.”
RxBenefits is backed by Advent International, one of the largest and most experienced global private equity investors, and Great Hill Partners, a leading private equity firm that invests in high-growth, disruptive companies. Mr. Jelinek and Ms. Savacool will join Mr. Statham and representatives from Advent and Great Hill on the Board of Directors.
About Rick Jelinek
Mr. Jelinek most recently served as Executive Vice President of Enterprise Modernization and Integration for CVS Health, where he led the company’s integration with Aetna and company-wide business process transformation acceleration. Previously, Mr. Jelinek held various senior roles at Aetna, including Executive Vice President of Enterprise Strategy, Head of Markets and member of the Executive Leadership Team, the senior governing body of the company. Prior to Aetna, Mr. Jelinek was at UnitedHealth for 19 years, serving in a variety of executive leadership roles, including CEO of OptumHealth.
Mr. Jelinek is a member of the Young Presidents’ Organization and a founding advisory board member for the Griffith Leadership Center at the University of Michigan School of Public Health. He currently is a Board member of HealthEdge and previously served on the Boards of Redbrick Health, Sutter Health, the Minnesota Children’s Museum and Cotiviti. Mr. Jelinek holds a master’s degree in Health Services Administration and an MBA from the University of Michigan, as well as a bachelor’s degree in Business Administration from the University of Southern California.
About Kristi Savacool
Ms. Savacool is currently an Executive Business Advisor for Private Health Management, a leading health care management company. Previously, she served as CEO of Aon Hewitt, the global human resources solutions business of Aon plc. Under her leadership, the firm served 20,000 clients globally, delivering innovations including the industry’s largest private health exchange solution. Prior to that, Ms. Savacool held several senior executive positions at The Boeing Company, including as Chief Information Officer for Commercial Airplanes, Operations and Business Services.
Ms. Savacool currently serves as a Board member of various companies including TrueBlue, Ascension, Springbuk and Private Health Management as well as the non-profit Escuela Adelante. Ms. Savacool holds a master of science degree in Industrial Management from SKEMA Business School in France.
RxBenefits is a technology-enabled pharmacy benefits optimizer (PBO) with more than 500 pharmacy pricing, data, and clinical experts working together to deliver prescription benefit savings to employee benefit consultants and their self-insured clients. With over 2 million members, RxBenefits brings market-leading purchasing power, independent clinical solutions, and high-touch service to its customers – ensuring that all businesses, regardless of size, can provide an affordable and valuable pharmacy benefit plan to their employees. The company is headquartered in Birmingham, AL.
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About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 companies across 42 countries, and as of March 31, 2021, had $74 billion in assets under management. With 14 offices in 11 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised nearly $8 billion of commitments and invested in more than 75 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. In addition to RxBenefits, Great Hill’s portfolio of healthcare companies includes Pareto Health, PartsSource, Quantum Health, and Vatica Health. Prior healthcare investments include bswift, Passport Health Communications, PlanSource, Qualifacts, and SterilMed.
For more information, including a list of all Great Hill investments, visit www.greathillpartners